Mixed-Use French Quarter
920 Royal Street New Orleans, LA 70116
920 Royal Street, New Orleans, LA, 70116
$2,050,000
For Sale
$2,050,000
Standalone building with street-level retail and two upstairs residential units, each opening to covered cast-iron galleries.
Property Size4,600 SF
Price / SF$445.65
Days on Market211
Property Features for 920 Royal Street
General Information
- Standard status
- Active
- Size
- 4,600 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1840
Listing agency
FQR Realtors
(504) 616-0990
Listed by
George Jeansonne · License #995687377
(504) 616-0990
Source
Compass
Added: Dec 22, 2025 Updated: Jul 20 at 8:36PM Checked: Jul 21 at 6:37AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of FQR Realtors
Investment Insights
Based on property information with market context.
This standalone French Quarter building offers a flexible mixed-use income setup with street-level commercial space and two full-floor residential units upstairs. The ground floor is occupied by Leroy’s Place museum and retail concept, with an additional studio space positioned at the rear and oriented around a traditional French Quarter courtyard. Upstairs, each residence opens to its own covered cast-iron street gallery overlooking Royal Street. The residences include soaring ceilings, separated kitchens, and private rear bedrooms.
The property is located on Royal Street in the Vieux Carre, directly across from the Cornstalk Hotel and surrounded by recognized Quarter landmarks. Constructed in 1840 as part of a series of three three-story brick dwellings, the building features ornate cast-iron galleries and a front entrance dating to the 1850s, with Greek Revival-style openings later adapted with late 19th-century shop windows reflecting its long-standing commercial presence.
Overall, the layout supports continued retail use on the ground level alongside independent, gallery-facing residential living on the upper floors.
The property is located on Royal Street in the Vieux Carre, directly across from the Cornstalk Hotel and surrounded by recognized Quarter landmarks. Constructed in 1840 as part of a series of three three-story brick dwellings, the building features ornate cast-iron galleries and a front entrance dating to the 1850s, with Greek Revival-style openings later adapted with late 19th-century shop windows reflecting its long-standing commercial presence.
Overall, the layout supports continued retail use on the ground level alongside independent, gallery-facing residential living on the upper floors.
Key Highlights
- Standalone French Quarter building on world‑famous Royal Street with street‑level museum/retail and two upstairs residential units
- Constructed in 1840; 3 stories with brick construction and an asphalt roof
- Ground floor includes the museum and retail concept Leroy's Place, plus an additional studio space at the rear oriented around a French Quarter courtyard
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $91.1k | $19.80 |
| − Vacancy | −$7.9k | −$1.71 |
| EGI | $83.2k | $18.09 |
| − OpEx | −$25.0k | −$5.43 |
| NOI | $58.2k | $12.66 |
4,600 SF · lease $19.80/SF/yr · vacancy 8.64% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$832.1K
$728.1K – $970.8K
NOI $58,247 @ 7.0% cap · market cap 2.84%
Second Best
Retail
$811.4K
$710.0K – $946.7K
NOI $56,801 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,842 @ 7.0% cap · market cap 3.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Standalone building with street-level retail and two upstairs residential units, each opening to covered cast-iron galleries.
Where is this duplex located?
The property is located at 920 Royal Street New Orleans, LA.
What is the asking price?
The asking price for this property is $2,050,000.
What are key features of this property?
This property features: Standalone French Quarter building on world‑famous Royal Street with street‑level museum/retail and two upstairs residential units; Constructed in 1840; 3 stories with brick construction and an asphalt roof; Ground floor includes the museum and retail concept Leroy's Place, plus an additional studio space at the rear oriented around a French Quarter courtyard
